A Working Capital Loan or WCL for short simply means a short-term loan that is used for financing a company's everyday operations. These loans are usually not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company's short-term operational needs.
Some lenders may call it a business term loan (or Small Business Loan) even though a term loan simply means a loan where the lender provides cash upfront and receives that money back through a series of smaller payments over a fixed certain amount of time(term) and can technically refer to a number of loan types.
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A Working Capital Loan is often the first thing that most SMEs go for as it is the loan that the most number of lenders offer and therefore market. However, there are many other loan types you can consider so it would be beneficial for you to check out the rest of the glossary page!
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